Philippines Full Year GDP GrowthPhilippines Full Year GDP GrowthPhilippines Full Year GDP Growth

Philippines Full Year GDP Growth

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Key data points


Last release
Observation period
2023
Next release
Forecast
Highest
7.60% on Dec 31, 2022
Lowest
−9.50% on Dec 31, 2020

About Philippines Full Year GDP Growth


Category
GDP
Frequency
Annual
Units
%
Services are the biggest sector of the Philippine economy and account for 57 percent of total GDP. Within services the most important segments are: trade, repair of motor vehicles and household goods (17 percent of total GDP); real estate, renting and business activities (11 percent); transport, storage and communication (8 percent); financial services (7 percent) and public administration, defense and social security (4 percent). Industry accounts for 31 percent of GDP. Within industry, manufacturing (22 percent of total GDP) and construction (5 percent) are the most important. Agriculture contributes the remaining 12 percent of GDP.